Loan Comparison: 3.47% vs 6.5%
2370 Lisa, Colorado Springs, CO 80915 · 4bd/3ba · $469,900
List Price
$469,900
Assumable Rate
3.47%
Remaining Balance
$323,685
Equity Gap
$164,048
Loan Type
FHAAdjust Your Scenario
$23,495
$23,495$164,048
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 4.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.47% + gap loan
$2,529/moAssumed loan: $1,448/mo
Gap financing: $1,081/mo
$293less per month with the assumable
Your Savings on This Property
2370 Lisa, Colorado Springs · 3.47% FHA vs 6.5% conventional
$293
per month
$3,513
per year
$105,400
over 30 years
$123,233
interest saved
How gap financing works: The equity gap ($164,048) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,495, 5% of purchase price) and a second mortgage for the rest ($140,553 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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